HomeMy WebLinkAbout88-003
-
.-...
STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF ARDEN HILLS
RESOLUTION NO. 88-3
RESOLUTION DESIGNATING BROKERAGE FIRMS FOR
INVESTMENT IN FEDERAL GOVERNMENT INSTRUMENTS
WHEREAS, Resolution No. 88-2 designates several banks
and savings and loan companies as depositories for the sole
purpose of investing funds of the City of Arden Hills, and
WHEREAS, it is desirable to invest City funds at the
highest available interest rate;
NOW, THEREFORE, BE IT RESOLVED that, effective this
date, the following brokerage firms are designated for the sole
purpose of investing City funds in federal government
instruments:
.
Kidder, Peabody & Company, Inc.
Merrill, Lynch, Pierce, Fenner & Smith, Inc.
BE IT FURTHER RESOLVED that the City Treasurer is
authorized to take whatever actions are necessary to make
investments at the aforesaid brokerage firms, and
BE IT FURTHER RESOLVED that no collateral be required
since investments are authorized only in federal government
instruments which are backed by the full faith and credit of the
United States Government.
Passed by the Arden Hills City Council this 4th day of
January, 1988.
/7
/J/ ,;4. /-''7.." /' '.' z /4'~
;/\ 4,&-(:: Z.;77';--:""/'':?/f''?';, ,,' .,.~-,
Robert L. Woodburn, Mayor
atricia orrison
Clerk Administrator
.
....